Capital Research Global Investors lessened its holdings in Penske Automotive Group, Inc. (NYSE:PAG) by 31.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,030,875 shares of the company’s stock after selling 473,000 shares during the quarter. Capital Research Global Investors owned about 1.20% of Penske Automotive Group worth $45,266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank of Montreal Can grew its holdings in shares of Penske Automotive Group by 10.9% during the first quarter. Bank of Montreal Can now owns 2,787 shares of the company’s stock valued at $131,000 after buying an additional 275 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Penske Automotive Group by 2.4% during the first quarter. Russell Investments Group Ltd. now owns 64,336 shares of the company’s stock valued at $3,015,000 after buying an additional 1,500 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Penske Automotive Group by 2.3% during the first quarter. Wells Fargo & Company MN now owns 45,961 shares of the company’s stock valued at $2,152,000 after buying an additional 1,026 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Penske Automotive Group by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 335,182 shares of the company’s stock valued at $15,689,000 after buying an additional 14,106 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Penske Automotive Group by 3.3% during the first quarter. UBS Asset Management Americas Inc. now owns 35,792 shares of the company’s stock valued at $1,675,000 after buying an additional 1,127 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

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A number of equities research analysts have recently commented on the stock. KeyCorp reiterated a “hold” rating on shares of Penske Automotive Group in a report on Wednesday. Berenberg Bank assumed coverage on shares of Penske Automotive Group in a report on Wednesday. They set a “hold” rating and a $52.00 price target on the stock. ValuEngine upgraded shares of Penske Automotive Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Northcoast Research assumed coverage on shares of Penske Automotive Group in a report on Thursday, September 28th. They set a “buy” rating and a $56.00 price target on the stock. Finally, BidaskClub cut shares of Penske Automotive Group from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $53.43.

In other Penske Automotive Group news, EVP Claude H. Denker III sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $41.27, for a total transaction of $206,350.00. Following the sale, the executive vice president now owns 22,243 shares of the company’s stock, valued at approximately $917,968.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 40.70% of the stock is currently owned by insiders.

Shares of Penske Automotive Group, Inc. (NYSE PAG) opened at 46.32 on Friday. The stock has a market cap of $3.96 billion, a PE ratio of 11.62 and a beta of 1.45. Penske Automotive Group, Inc. has a 12-month low of $38.33 and a 12-month high of $56.05. The stock’s 50 day moving average is $43.83 and its 200-day moving average is $43.95.

Penske Automotive Group (NYSE:PAG) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.07. Penske Automotive Group had a net margin of 1.75% and a return on equity of 19.13%. The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts expect that Penske Automotive Group, Inc. will post $4.30 EPS for the current year.

About Penske Automotive Group

Penske Automotive Group, Inc is an international transportation services company. The Company operates automotive and commercial truck dealerships principally in the United States, Canada and Western Europe, and distributes commercial vehicles, diesel engines, gas engines, power systems, and related parts and services principally in Australia and New Zealand.

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Institutional Ownership by Quarter for Penske Automotive Group (NYSE:PAG)

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